WASHINGTON (March 20): The US and Japan on Thursday released an action plan for their efforts to develop alternatives to China for critical minerals and rare earths supply chains, focusing initially on price floors for a select group of minerals. The statement said the two countries will discuss coordinated trade policies such as a border-adjusted price floor mechanism, "focusing in the first instance on a select group of critical minerals". The two sides will consult on how price floors and other trade provisions can fit into a plurilateral critical minerals supply agreement involving other countries, the statement said. The two sides also agreed to share information on mining standards, technical cooperation, and geological mapping of potential critical mineral deposits. They also agreed to coordinate stockpiling of critical minerals, rapid responses to prevent supply disruptions and joint actions to address economic coercion, the statement said.

Source: The Edge Markets March 20, 2026 03:02 UTC